Penumbra, Inc. $PEN Stock: Washington Trust Advisors Inc. Cuts Holdings

Washington Trust Advisors Inc. lowered its holdings in shares of Penumbra, Inc. (NYSE:PEN) by 22.7% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 5,928 shares of the company’s stock after selling 1,743 shares during the period. Washington Trust Advisors Inc.’s holdings in Penumbra were worth $1,887,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the business. Crossmark Global Holdings Inc. boosted its stake in shares of Penumbra by 12.6% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 3,112 shares of the company’s stock worth $991,000 after acquiring an additional 349 shares during the period. Nisa Investment Advisors LLC increased its holdings in shares of Penumbra by 31.2% during the 3rd quarter. Nisa Investment Advisors LLC now owns 366 shares of the company’s stock worth $117,000 after acquiring an additional 87 shares during the last quarter. Fragasso Financial Advisors Inc bought a new stake in Penumbra in the 3rd quarter valued at $251,000. GAMMA Investing LLC raised its stake in Penumbra by 97.0% in the 3rd quarter. GAMMA Investing LLC now owns 2,622 shares of the company’s stock valued at $835,000 after acquiring an additional 1,291 shares during the period. Finally, CoreCap Advisors LLC raised its stake in Penumbra by 1,066.7% in the 3rd quarter. CoreCap Advisors LLC now owns 140 shares of the company’s stock valued at $45,000 after acquiring an additional 128 shares during the period. Institutional investors and hedge funds own 88.88% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on PEN shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Penumbra in a research report on Thursday, October 15th. Evercore reiterated an “outperform” rating and issued a $320.00 price objective on shares of Penumbra in a report on Monday, July 6th. Finally, Zacks Research raised shares of Penumbra from a “strong sell” rating to a “hold” rating in a research report on Monday, August 24th. Three research analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $367.07.

Penumbra Price Performance

NYSE:PEN traded down $0.20 during trading hours on Friday, reaching $324.76. 357,894 shares of the company were exchanged, compared to its average volume of 321,789. The business has a 50 day moving average of $320.93 and a 200 day moving average of $322.02. Penumbra, Inc. has a 1-year low of $221.26 and a 1-year high of $362.41. The company has a debt-to-equity ratio of 0.01, a current ratio of 5.75 and a quick ratio of 3.86. The company has a market capitalization of $12.79 billion, a P/E ratio of 79.79, a P/E/G ratio of 2.23 and a beta of 0.70.

Penumbra (NYSE:PEN) last announced its quarterly earnings data on Thursday, July 30th. The company reported $0.88 earnings per share for the quarter, missing the consensus estimate of $1.16 by ($0.28). The company had revenue of $390.05 million during the quarter, compared to analyst estimates of $389.64 million. Penumbra had a net margin of 10.67% and a return on equity of 10.50%. Penumbra’s revenue was up 14.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.86 earnings per share. Research analysts forecast that Penumbra, Inc. will post 4.96 EPS for the current year.

About Penumbra

Penumbra, Inc is a medical device company that develops, manufactures and markets products used to treat patients with vascular conditions. Its technologies are primarily designed for minimally invasive procedures in the neurovascular and peripheral vascular markets, including the treatment of ischemic stroke, brain aneurysms and other vascular disorders.

The company’s product portfolio includes aspiration and mechanical thrombectomy systems for removing blood clots, embolization devices for blocking abnormal blood flow, and access and delivery products used during endovascular procedures.